TORONTO, March 31, 2014 /PRNewswire/ - Concordia Healthcare Corp. (Concordia or the Company) (TSX: CXR) (OTCQX: CHEHF), a diverse healthcare company focused on
legacy pharmaceutical products, orphan drugs, and medical devices for
the diabetic population, today announced its financial and operational
results for the year ended December 31, 2013.

This is Concordia's first reporting period since the Company began
trading on the Toronto Stock Exchange on December 24, 2013. Financial
references are in U.S. dollars unless otherwise indicated.
These results represent the Company's financials from the start of its
operational and economic activity in May 2013.

2013 Financial Highlights

(in US$)

8 Months Ended December 31, 2013

Revenue

$40,447,000

Gross profit

$32,109,000

Operating income

$13,985,000

Net income

$2,431,000

Earnings per share (basic)

$0.38

Earnings per share (diluted)

$0.38

EBITDA1

$9,376,000

Adjusted EBITDA2

$21,169,000

Cash and cash equivalents

$42,899,000

Senior and subordinate debt

$14,966,000

2013 Operational Highlights

On May 6, 2013, acquired Shionogi, Inc.'s legacy pharmaceutical business
assets consisting of three U.S. Food and Drug Administration-approved
drugs: Kapvay, which is used to effectively treat attention deficit
hyperactivity disorder (ADHD), Ulesfia, a topical treatment for head
lice, and Orapred, an anti-inflammatory used in the treatment of
pulmonary diseases such as asthma. The purchase price paid to Shionogi
was $28,704,000.

In December 2013, completed a reverse merger and began trading on the
Toronto Stock Exchange. Concurrent with the reverse merger, Concordia
issued the equivalent of 5,520,000 common shares at a price of Cdn$6.25
per for total gross proceeds of Cdn$34,500,000.

On December 19, 2013, acquired Pinnacle Biologics Inc. The primary asset
acquired in the Pinnacle transaction was Photofrin for PDT. Photofrin
for PDT is FDA approved as a treatment for esophageal cancer, Barrett's
Esophagus and non-small cell lung cancer. The purchase price paid to
Pinnacle was $58,017,000. Subsequent to year end, on January 13, 2014,
the FDA granted the Company a Special Protocol Assessment for a Phase 3
clinical trial to evaluate PDT with Photofrin as a treatment for
perihilar cholangiocarcinoma, an orphan indication. Also subsequent to
year end, on March 26, 2014, the FDA granted the company premarket
supplemental approval (PMA) for its Optiguide® DCYL700 Fiber Optic
Diffuser Series flexible fiber.

Subsequent to year end, on January 6, 2014, signed a five year exclusive
distribution agreement with Lachlan Pharma Holdings for the
distribution of Ulesfia® Lotion in the United States;

Subsequent to year end, on March 11, 2014, completed a short-form
prospectus offering, on a bought deal basis of 5,750,000 common shares
of Concordia, which includes the exercise by the Underwriters of an
over-allotment option of 15 percent, for net proceeds to the Company,
after the deduction of underwriters' fees of Cdn$63,508,750.

Subsequent to year end, on March 20, 2014, entered into a definitive
agreement to acquire Donnatal®, an adjunctive therapy in the treatment
of irritable bowel syndrome and acute enterocolitis, from a privately
held specialty pharmaceutical company carrying on business as Revive
Pharmaceuticals. The Company has agreed to acquire Donnatal® for
$200,000,000 in cash and an aggregate of 4,605,833 common shares of
Concordia and is subject to customary closing conditions and acceptable
financing. In the 2013 calendar year, Donnatal generated approximately
$49,800,000 in revenues.

Subsequent to year end, on March 28, 2014, the Company paid in full its
senior and subordinate debt as at December 31, 2013, of $14,966,000. On
March 20, 2014, the Company announced it had a commitment letter with
GE Capital, Healthcare Financial Services and its affiliated entities
whereby GE agreed to provide a secured credit facility having a
principal amount of up to $195,000,000, consisting of a $170,000,000
term loan and a $25,000,000 operating line, such credit facility being
subject to a number of customary conditions, including entering into
definitive documentation.

Subsequent to year end, on March 30, 2014, due to the Company's
continued confidence in its financial strength, Concordia's board of
directors approved a $0.30 per common share annualized 'eligible'
dividend with $0.075 per common share being paid to shareholders on a
quarterly basis. With respect to the second quarter of 2014, a record
date of April 15, 2014 will be declared with distribution of proceeds
on April 30, 2014. Declarations and payments will be made in U.S.
dollars. All future quarterly dividends will be subject to quarterly
financial review and board approval.

"2013 was a landmark year for Concordia as we achieved all of our
corporate goals that we set for ourselves," said Mark Thompson, Chief
Executive Officer of Concordia. "For the remainder of 2014 and beyond,
we will continue to focus on the effective execution of our growth
strategy while we concurrently integrate the assets we acquired into
our business."

Net revenues for the Legacy Pharmaceuticals Division were $36,900,000
for the period ended December 31, 2013 and related to the sales of
Kapvay, Orapred ODT, Orapred OS and Ulesfia after subtracting
deductions from Gross Sales such as chargebacks, returns and
allowances, rebates and other deductions that are customary in the
industry.

Cost of sales for the period ended December 31, 2013 were $7,400,000
million and reflect the costs of active pharmaceutical ingredients,
excipients, packaging and freight costs and royalties.

Gross Profit for the period ended December 31, 2013 was $29,500,000
million.

Orphan Drugs Division

The operations of Concordia's Orphan Drugs Division commenced on
December 20, 2013 with the acquisition of Pinnacle Biologics Inc. As a
result, there were no material revenues, profits or expenses incurred
in this reportable segment for the year ended December 31, 2013.

Specialty Healthcare Distribution Division

Net revenues for the Specialty Healthcare Distribution division were
$3,600,000 for the period ended December 31, 2013 and related primarily
to sales and distribution of diabetes testing supplies and orthotics
for diabetic patients.

Costs of sales for the period ended December 31, 2013 were $900,000 and
reflect the cost of products, warehousing and freight.

Gross profit for the period ended December 31, 2013 was $2,600,000.

For the Company, operating income for the period ending December 31,
2013, was $13,985,000.

Operating expenses for the period ended December 31, 2013 were
$18,124,000, including general and administrative expenses, which were
$8,476,000, selling expenses of $2,464,000, acquisition-related costs
of $3,692,000, share-based compensation of $1,070,000 and exchange
listing expenses of $2,404,000.

Net cash provided by operating activities was $49,863,000 million for
the year ended December 31, 2013 and was driven by the operations of
the Legacy Pharmaceuticals division.

As at December 31, 2013 and March 31, 2014 the Company had 17,985,889
and 23,861,246 common shares issued and outstanding, respectively.

Conference Call and Webcast

Management will host a conference call to discuss the 2013 results on
Monday, March 31, 2014 at 8:30 am ET. Following management's
presentation, there will be a question-and-answer session. To
participate in the conference call, please dial (888) 231-8191 or (647)
427-7450.

A digital conference call replay will be available until midnight on
April 14, 2014 (ET) by calling (855) 859-2056 or (416) 849-0833. Please
enter the password 15804692 when instructed. A webcast replay will be
available for 365 days by accessing a link through the Events section
at visit www.concordiarx.com

1As used herein, EBITDA is defined as net income adjusted for net
interest expense, income tax expense, depreciation and amortization.
Management uses EBITDA to assess the Company's operating performance. A
reconciliation of net income to EBITDA is provided below

2As used herein, adjusted EBITDA is defined as EBITDA adjusted for
one-time charges associated with acquisitions, one-time charges
associated with the Company's listing on the TSX, non-cash items such
as unrealized gains / losses on derivative instruments, and realized /
unrealized gains/losses related to foreign exchange revaluation.
Management uses adjusted EBITDA as a key metric in assessing business
performance when comparing actual results to budgets and forecasts.
Management believes adjusted EBITDA is an important measure of
operating performance and cash flow, and provides useful information to
investors because it highlights trends in the underlying business that
may not otherwise be apparent when relying solely on IFRS measures.

Non-IFRS Measures

This press release makes reference to certain non-IFRS measures. These
non-IFRS measures are not recognized measures under IFRS and do not
have a standardized meaning prescribed by IFRS, and are therefore
unlikely to be comparable to similar measures presented by other
companies. When used, these measures are defined in such terms as to
allow the reconciliation to the closest IFRS measure. These measures
are provided as additional information to complement those IFRS
measures by providing further understanding of the Company's results of
operations from management's perspective. Accordingly, they should not
be considered in isolation nor as a substitute for analyses of the
Company's financial information reported under IFRS. Management uses
non-IFRS measures such as EBITDA and Adjusted EBITDA to provide
investors with a supplemental measure of the Company's operating
performance and thus highlight trends in the Company's core business
that may not otherwise be apparent when relying solely on IFRS
financial measures. Management also believes that securities analysts,
investors and other interested parties frequently use non-IFRS measures
in the evaluation of issuers. Management also uses non-IFRS measures
in order to facilitate operating performance comparisons from period to
period, prepare annual operating budgets, and to assess its ability to
meet future debt service, capital expenditure, and working capital
requirements.

Notice regarding forward-looking statements:

This release includes forward-looking statements regarding Concordia and
its business, which may include, but is not limited to, statements with
respect to the acquisition, the impact of the acquisition on
Concordia's financial performance, Concordia's growth and other
factors. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "is expected",
"expects", "scheduled", "intends", "contemplates", "anticipates",
"believes", "proposes" or variations (including negative variations) of
such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or
be achieved. Such statements are based on the current expectations of
Concordia's management, and are based on assumptions and subject to
risks and uncertainties. Although Concordia's management believes that
the assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this release may not occur by certain specified dates or
at all and could differ materially as a result of known and unknown
risk factors and uncertainties affecting Concordia, including risks
regarding the pharmaceutical industry, the failure to obtain regulatory
approvals, economic factors, market conditions, the equity markets
generally, risks associated with growth and competition, risks
associated with the acquisition and many other factors beyond the
control of Concordia. Although Concordia has attempted to identify
important factors that could cause actual actions, events or results to
differ materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and Concordia undertakes no obligation
to publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.